Price and Promotion Specialist

1 month ago

Brackenfell, South Africa ShopriteX Full time

**Role Purpose**

The Retail Category Management Specialist - Price and Promotion (FMCG) is responsible for driving profitable growth through effective pricing and promotional strategies in the fast-moving consumer goods (FMCG) industry. This role involves analysing market data, consumer behaviour, and competitive trends to develop and implement pricing and promotion initiatives that optimize sales, margin, and market share for assigned product categories. The Retail Category Management Specialist will collaborate with cross-functional teams, provide actionable insights, and influence decision-making to achieve business objectives.

**Role Description**

1. Pricing Strategy Development:

- Conduct thorough analysis of market trends, competitive pricing, and consumer insights to develop effective pricing strategies for assigned product categories.
- Determine optimal pricing levels based on cost structures, market dynamics, and target audience to maximize profitability while ensuring competitiveness.
- Collaborate with internal teams (e.g., sales, finance, marketing) to align pricing strategies with overall business goals.

2. Promotional Planning and Execution:

- Identify and recommend appropriate promotional mechanics (e.g., discounts, bundles, loyalty programs) based on category performance, consumer behaviour, and competitive landscape.
- Monitor and analyse promotional effectiveness, including sales uplift, profitability, and ROI, and make data-driven recommendations for future promotions.

3. Data Analysis and Insights:

- Utilize various data sources (e.g., point-of-sale, market research, consumer data) to identify pricing and promotional opportunities.
- Conduct in-depth analysis of category performance, market trends, and competitor activities to identify actionable insights.
- Regularly report on key performance indicators (KPIs) related to pricing and promotion, highlighting successes, areas for improvement, and recommended actions.

4. Collaboration and Stakeholder Management:

- Collaborate with cross-functional teams, including sales, marketing, finance, and supply chain, to ensure alignment of pricing and promotion strategies with overall business objectives.
- Engage with key retail partners and negotiate terms related to pricing, promotions, and category management initiatives.
- Act as a trusted advisor to internal stakeholders, providing category insights, pricing recommendations, and promotional best practices.

5. Continuous Improvement:

- Stay updated on industry trends, market dynamics, and emerging pricing and promotion strategies.
- Identify opportunities for process improvements, automation, and enhanced data analysis capabilities to drive efficiency and effectiveness in category management.

**Qualifications and experience**
- Bachelor's degree in business administration, Marketing, or a related field.
- +4 years of experience in category management, ranging, merchandising, or related roles, preferably within the retail or consumer goods industry.
- In-depth knowledge of the FMCG industry, including market trends, consumer behaviour, retail dynamics, and competitor activities.
- Experience in experience in data analysis, pricing strategy development, and promotional planning.
- Proven track record of successfully managing pricing and promotion projects from conception to implementation.
- Strong background in data analysis, with experience in extracting, manipulating, and analysing large datasets to derive actionable insights.
- Experienced in identifying suitable promotional mechanics based on category performance, consumer behaviour, and competitive landscape. Able to monitor and evaluate the effectiveness of promotions and make data-driven recommendations for future initiatives.
- Previous experience in negotiating with suppliers and vendors to secure favourable terms, pricing, and promotional activities.
- Proficiency in using category management software and tools is preferred.
- Familiarity with data analysis tools and software, such as Tableau, Power BI, and Nielsen.
- Knowledge of pricing strategies, promotional planning, and retail merchandising concepts.
- Understanding of supply chain management principles and practices.

**Key competencies and work ethic**:

- Excellent analytical skills - proficiency in using data analysis tools and software such as Excel, SQL, or statistical analysis software.
- Strong collaboration and stakeholder management skills - strong collaboration, and stakeholder management. Effective stakeholder management and the ability to align pricing and promotion strategies with overall business objectives.
- Excellent communication and presentation skills - ability to effectively convey complex concepts and insights to both technical and non-technical stakeholders.
- Strong negotiation skills - ability to engage with retail partners, negotiate terms related to pricing, promotions, and category management initiatives, and secure favourable agreements

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